Big miss in Australian retail sales, tiny chance of 50bp Aug cut priced in

FXstreet.com (Barcelona) - Australian retail sales for the month of June MoM came at XX vs expectations of +0.4%, and prior of +0.1%. The data follows a fall below 40.00 in the Australian services sector, the first time it happens since the global financial crisis from 2008-2009. ‏As reported by David_Scutt, Treasury Dealer at Arab Bank Australia, "odds for a 25bps cut from the RBA in August now priced at 102%", which suggests market is pricing some chances of a 50bp cut Tuesday.